WhatsApp and other over the top messaging and calling apps destroyed “the rivers of gold” that the telcos had in the late 1990s and early 2000s.

Net neutrality was triggered by their attempts to block VOIP and messenger apps.

I knew one telco who made €3Bn clear profit a year from 2 Dell servers and a team of five to keep SMS messages flowing. Their billing infrastructure was bigger, much bigger than the SMS servers.